The bank and the credit bureaus are the only ones that could remove the late payments. If the bank waived the late payments, they will probably remove them from your credit as well. You will need to contact them to negotiate that. Otherwise you will have to dispute them to the credit bureaus. They will have 30 days to verify them or they must be removed.
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.
Yes, it will shorten the time in which the mortgage is on your credit report.
Forget the credit score, before you take out a mortgage you first need to think about if you can make the payments.
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.
Yes, it will shorten the time in which the mortgage is on your credit report.
Forget the credit score, before you take out a mortgage you first need to think about if you can make the payments.
Yes.
Refinance the mortgage with you listed as a borrower. You will not be reported to the credit bureaus by being listed on the deed since you have no obligation to pay the debt.
prove that you got exellent credit to maintain the mortgage payments up to date.
One.
If the mortgage payments are still being made then no - they won't be, however - if you default on the mortgage payments then yes - they will go after the cosigner and if it is not paid their credit will be effected.
As long as one is not behind on their mortgage payments, one should not effect the other. If one hasn't been making payments they will likely not be accepted for a credit card.
If they are not listed on the mortgage, then they have no legal obligation to pay the debt. If payments are not made it is only your credit that will be damaged.